Geographical Vibrancy and Firm Performance
Michael Cooper and
Alexei Ovtchinnikov
Working Papers from HAL
Abstract:
We develop a geographical-based vibrancy index using important location characteristics that measure local economic health. We show that local vibrancy is associated with future firm outcomes, including investment, leverage, profitability, and firm value. More vibrant firms are located in counties with more highly educated populations, lower unemployment, higher labor force participation rate, higher home values, higher density of firms that pay higher wages, and a higher percent above poverty than are low vibrancy firms. Our results indicate that the local vibrancy of a firm headquarters is an important determinant of firm policies and profitability.
Keywords: geography; firm location; vibrancy; firm characteristics; firm performance (search for similar items in EconPapers)
Date: 2015-03-20
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Working Paper: Geographical Vibrancy and Firm Performance (2015) 
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Persistent link: https://EconPapers.repec.org/RePEc:hal:wpaper:hal-02002786
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